P value approach to hypothesis testing

Reference no: EM1319817

Question: An automobile dealership has as one of its performance goals that the proportion of its automobiles sold that are deemed ‘good value for the money’ by the buyer is at least .90. For a random sample of 400 automobiles sold over the past six months, 352 were deemed by the purchasers to be ‘good value for the money.’ Does this sample data provide evidence that the dealership is not meeting its performance goal? Either use the p-value approach to hypothesis testing or use the significance level approach with α = .05.

Reference no: EM1319817

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